Reported 5 months ago
Austria's reliance on Russian natural gas is at risk due to a potential court case that could disrupt payments from OMV AG to Gazprom PJSC, potentially leading to a halt in gas supply. OMV issued a warning about a "foreign court decision" that could impact its payments to Gazprom, with the possibility of Austrian courts enforcing the decision and disrupting gas supplies. This situation comes as Austria is reviewing its contract with Gazprom and seeking to pivot away from Russian supplies. The outcome could result in short-term price increases, but the country is expected to have adequate supply until 2026 due to alternative sources and high storage levels.
Source: YAHOO